USA Mega

Pennsylvania Mega Millions Jackpot Annuity Payout Schedule for Mar 6, 1998

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Mega Millions annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $15,000,000 for a ticket purchased in Pennsylvania, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Pennsylvania

Drawing Date:Fri, Mar 6, 1998
Jackpot:$15,000,000
Federal Tax:37% marginal rate
State Tax: 3.07%
Report:Mega Millions annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$225,772$49,933$6,931$168,907
2$237,060$53,546$7,278$176,237
3$248,913$57,494$7,642$183,777
4$261,359$61,850$8,024$191,485
5$274,427$66,424$8,425$199,578
6$288,148$71,227$8,846$208,075
7$302,555$76,269$9,288$216,998
8$317,683$81,564$9,753$226,366
9$333,567$87,123$10,241$236,204
10$350,246$92,961$10,753$246,532
11$367,758$99,090$11,290$257,378
12$386,146$105,526$11,855$268,765
13$405,453$112,283$12,447$280,722
14$425,726$119,379$13,070$293,277
15$447,012$126,829$13,723$306,460
16$469,363$134,652$14,409$320,302
17$492,831$142,866$15,130$334,835
18$517,472$151,490$15,886$350,096
19$543,346$160,546$16,681$366,119
20$570,513$170,054$17,515$382,944
21$599,039$180,038$18,390$400,610
22$628,991$190,914$19,310$418,767
23$660,441$202,551$20,276$437,614
24$693,463$214,769$21,289$457,404
25$728,136$227,598$22,354$478,184
26$764,543$241,068$23,471$500,003
27$802,770$255,213$24,645$522,912
28$842,908$270,064$25,877$546,967
29$885,054$285,658$27,171$572,225
30$929,306$302,031$28,530$598,745
Total$15,000,000$4,391,010$460,500$10,148,488

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.